keithandmissy Posted March 16, 2005 Share Posted March 16, 2005 BILLION $ RIDE By ERICA COPULSKY -------------------------------------------------------------------------------- February 25, 2005 -- A team led by a former top Viacom executive has quietly approached the media giant about buying its Paramount Parks unit, The Post has learned. Tom McGrath, who stepped down as head of Viacom Inc.'s Paramount Enterprises last summer, has lined up investment firms Spectrum Equity Partners and GS Capital Partners, Goldman Sachs' private equity arm, to back him in his efforts to acquire the theme parks business, sources familiar with the situation said. As president of Paramount Enterprises and executive vice president of Viacom Entertainment Group, McGrath oversaw Viacom's theme parks, movie theater and music publishing businesses. The group expressed its interest to Viacom earlier this year in an attempt to preempt an auction of Paramount Parks, which is expected within the next few months. Sources say the division  which has amusement parks in North Carolina, Ohio, California and Virginia as well as Canada  could fetch $900 million to $1 billion. Viacom has told bankers that in the next few weeks it plans to begin formally interviewing Wall Street firms to advise on the sale of the unit. However, one source close to the situation said the firm is expected to retain Citigroup to handle the process. However, yesterday, Viacom co-president Tom Freston said in an earnings conference call that the company is in the "early stages of looking at potential opportunities" for Paramount Parks, which is viewed as a noncore asset. A Viacom spokesman would not comment further. McGrath did not return a call seeking comment. Besides the McGrath-led team, other potential buyers for the division include amusement park operators Cedar Fair, L.P. and Universal Parks, which is partly owned by NBC Universal and Blackstone Group, as well as other private equity firms. Six Flags and Busch Entertainment Corp., a subsidiary of brewer Anheuser-Busch, are also viewed as possible but less likely buyers. Viacom is putting its theme parks business on the block in what would be the latest in a string of asset sales at the media empire as it re-evaluates its strategy. As The Post reported in October, Viacom is screening its options for its Famous Players Canadian movie theater chain. The company is in the early stages of an auction, which has already attracted the interest of more than a dozen bidders, sources say. http://www.nypost.com/business/41172.htm Quote Link to comment Share on other sites More sharing options...
Reclaimer Posted March 16, 2005 Share Posted March 16, 2005 Yay for old news! No offense, but you may wish to search before you post: http://www.pkicentral.com/forums/index.php?showtopic=4382 (Don't feel bad. I created a dupe topic earlier today. Happens to the best of us) Quote Link to comment Share on other sites More sharing options...
flightoffear1996 Posted March 16, 2005 Share Posted March 16, 2005 That big long post for nothing. Quote Link to comment Share on other sites More sharing options...
familyman Posted March 16, 2005 Share Posted March 16, 2005 Someone take out the trash and delete this thread please. Quote Link to comment Share on other sites More sharing options...
keithandmissy Posted March 16, 2005 Author Share Posted March 16, 2005 I actually did search and didn't find it... guess the search was too specific. Well, at least now I know about a hundred users are going to come on here bad mouthing me all night! Sounds like good ol' PKI fun. Quote Link to comment Share on other sites More sharing options...
Reclaimer Posted March 16, 2005 Share Posted March 16, 2005 Nah. You're fine. We can't all be perfect all the time! Quote Link to comment Share on other sites More sharing options...
keithandmissy Posted March 16, 2005 Author Share Posted March 16, 2005 It's amazing though how there's a double standard here. This actual article was, in fact, never posted on this site before. The topic has been discussed no doubt. However, how many posts do we see about the following topics that are never deleted? 1. PKI is haunted. 2. Someone died on The Beast or some other injury rumor not based on fact. 3. Someone farted on the Italian Job construction site. 4. What's going to be the next coaster? 5. Who should make the next coaster. 6. Insert any post about the Flying Eagles here. 7. Smoking ban. The list goes on... it just depends on if you're in the "allowed to post more info" click I guess. Quote Link to comment Share on other sites More sharing options...
familyman Posted March 16, 2005 Share Posted March 16, 2005 It's all good. I think most of us just want to see the site nice and clean and tidy. Quote Link to comment Share on other sites More sharing options...
Reclaimer Posted March 16, 2005 Share Posted March 16, 2005 Familyman said it. Also, you've got to consider, this is quite an emotional topic for some. Paramount has owned the park for years, and some (like myself) hate to see talk of them selling. Just don't look into this issue too far. Like I said, if you'd have been on the site around 2:30pm today, you'd have seen me create a duplicate topic. It happens to pretty much everyone at sometime or another. Don't dwell on it. Quote Link to comment Share on other sites More sharing options...
Jasper Posted March 16, 2005 Share Posted March 16, 2005 I hope they don't buy paramount that would suck bigens. Quote Link to comment Share on other sites More sharing options...
UncleHenry Posted March 16, 2005 Share Posted March 16, 2005 Wow! Old news is SO exciting! (There, ya happy TRTR Guy?) Quote Link to comment Share on other sites More sharing options...
TRTR Guy Posted March 16, 2005 Share Posted March 16, 2005 I could've swore Dane said posting pics/ responses like that Brad was against the TOS now. Quote Link to comment Share on other sites More sharing options...
BoddaH1994 Posted March 16, 2005 Share Posted March 16, 2005 No need to close this. This is kind of a new development so it's not totally inappropriate to start a new topic. Plus, I'll be the first to admit that the Invission search tool sucks. Thanks for the information. Quote Link to comment Share on other sites More sharing options...
Reclaimer Posted March 16, 2005 Share Posted March 16, 2005 You know, that's what I love about these boards...You guys aren't forum Nazis. Every other forum I visit, it seems the mods and admins are power hungry. Quote Link to comment Share on other sites More sharing options...
BoddaH1994 Posted March 16, 2005 Share Posted March 16, 2005 You know, that's what I love about these boards...You guys aren't forum Nazis. Every other forum I visit, it seems the mods and admins are power hungry. We like to think that we rules these forums with an iron fist. Quote Link to comment Share on other sites More sharing options...
dxrunner Posted March 16, 2005 Share Posted March 16, 2005 It's amazing though how there's a double standard here. This actual article was, in fact, never posted on this site before. The topic has been discussed no doubt. However, how many posts do we see about the following topics that are never deleted? 1. PKI is haunted. 2. Someone died on The Beast or some other injury rumor not based on fact. 3. Someone farted on the Italian Job construction site. 4. What's going to be the next coaster? 5. Who should make the next coaster. 6. Insert any post about the Flying Eagles here. 7. Smoking ban. The list goes on... it just depends on if you're in the "allowed to post more info" click I guess. Somebody needs to call the WHAAAAAAAMBULANCE 1)Pki haunted thread... truth but fun to bring back up 2)The threads on injuries normally get closed because as you said, its not based on fact 3) The IJST threads are update threads and have a purpose 4) I agree- those threads are garbage IMO 5) I agree- same as above 6) The flying eagels post have been dealt with and so have the people who keep posting the crap (thats useless anywas) threads that show the new paint job, theming etc, are useful 7) There have only been 2 threads on smoking ban, one discussing the rumor of it, and one about PKI announcing it There really arent any clicks, we all know each other for the most part, and if we dont know you we try to get to know you. Other than that im not gonna bash you at all, this was very useful, the article wasnt posted, we were just discussing the possibility of it being sold. Quote Link to comment Share on other sites More sharing options...
familyman Posted March 16, 2005 Share Posted March 16, 2005 Good people on here thats for sure. Quote Link to comment Share on other sites More sharing options...
BoddaH1994 Posted March 16, 2005 Share Posted March 16, 2005 Our users are generally pretty good about not making garbage topics or making one-word-response posts. It's all a violation of our ToS, but ToS is really only as good as you guys respect it and we enforce it. Quote Link to comment Share on other sites More sharing options...
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